Handcuffs: IRS Investigates Meghan and Harry’s Financial Activities

Prince Harry and Meghan Markle, the Duke and Duchess of Sussex, have faced a significant setback as it has come to light that donations to their charitable foundation have plummeted by £9 million compared to the previous year.

The couple's foundation, named after their son Prince Archie, recently released its accounts for 2022, revealing that it received only two donations totaling £1.6 million.

This sharp decline is in stark contrast to the previous year when they received over £10.4 million in donations, marking a drop of more than £8.7 million.

After accounting for salaries, expenses, and grants, the foundation suffered a revenue loss of approximately £536,000.

However, it still holds a substantial amount of funds, with over £6.8 million remaining.

In 2021, the foundation disbursed more than £2.4 million in grants, but this number dwindled to just over a million in 2022.

While expenses increased slightly from £578,000 to £624,000, the most significant surge was seen in salaries, with £508,881 paid out compared to £129,584 the previous year.

Financial experts are now urging the Internal Revenue Services (IRS) to investigate the financial activities of Prince Harry and Meghan Markle.

There is growing concern that the couple has been using their foundation and charity as their personal bank account.

Reports suggest that they have established a network of 11 companies in Delaware, a tax haven state in the United States, as part of their expanding business interests.

These companies, along with 13 bank accounts, have raised suspicions about the whereabouts of their money.

Delaware offers numerous advantages for incorporating companies, including flexible business laws and low personal income tax rates.

It is home to a vast number of corporations, with almost 65% of Fortune 500 companies incorporated there.

While the officers and directors of a company must be disclosed, the actual owners are not required to identify themselves.

Delaware also does not impose income tax on corporations registered in the state if they do not conduct business there.

These factors have led to Delaware being referred to as a domestic tax haven.

The Sussexes' filings shed light on their lucrative ventures outside the royal family and provide insight into the direction of their media empire.

More than half of their new companies are focused on the entertainment sector, with some bearing names that hold personal significance to them.

For instance, Cloverdale Inc shares its name with the Los Angeles street where Meghan Markle lived with her mother after her parents' divorce.

Orinoco Publishing LLC may be a tribute to one of Princess Diana's favorite songs.

Pekka Publishing LLC, founded in 2020, previously held the rights to Meghan's children's book, “The Bench.”

There is speculation that Hampshire LLC is named after the county where the couple spent time during Meghan's first pregnancy.

Baobab Holdings LLC could be influenced by the tree of the same name native to Australia and Africa.

Lastly, Nemawashi Holdings LLC, established in September 2020, is described as a holding company and takes its name from a Japanese term meaning the process of quietly laying the foundation for a project.

The Sussexes' companies were incorporated by a team led by Meghan's long-time attorney, Richard Jeno, and her business manager, Andrew Mayer.

Unfortunately, the creation of not-for-profits in Delaware is a common practice among the elite, as it allows them to legally avoid taxes.

In Delaware, up to 90% or even 95% of donations can be used to cover expenditures, enabling the wealthy to channel their expenses through their charities while minimizing tax obligations.

The IRS investigation into Prince Harry and Meghan Markle's financial activities will shed further light on their use of these companies and bank accounts.

As their media empire continues to expand, it remains to be seen how their business ventures will impact their charitable foundation and the public perception of their philanthropic efforts.